Pension Scheme Administrator
London-2021-027-RA1 (Human Resources Assistant)
US Embassy, London
Thursday 7th December 2021
£54,805 - £69,299 gross salary per annum DOE
- Performance Related Pay System
- Pension Scheme
- BUPA Membership
- Employee Assistance Program
- Season Ticket Loan
- Generous Annual Leave & Sick Leave
- Paid Public Holidays (U.K. & U.S.)
Responsibilities / Job Description
Serves as the expert on employee retirement benefits and has sole responsibility for the day-to-day management of the Mission’s two private pension schemes (a Defined Benefit (DB) plan, the American Embassy Private Pension Scheme (AEPPS) and a Defined Contribution (DC) plan, the Group Personal Pension Plan (GPPP)) and laws, policies and regulations relating thereto. Advises employees on myriad complex and sensitive issues relating to the AEPPS and the GPPP such as death, disability and early retirement, by using extensive knowledge of the UK pension industry, scheme rules, and HM Revenue & Customs (HMRC) pension laws. Ensures that members are aware of their prospective entitlements from the respective scheme.
Ensures the Embassy meets its legal obligations under the "auto-enrolment" pension rules.
Upon request, obtains main scheme and Additional Voluntary Contribution benefits illustrations from pension companies and, using knowledge of UK pension law and local pension rules, explains the various pension options to requesting employee to ensure employee's wishes are met in maximising benefits under UK pension rules.
Processes paperwork in connection with pension scheme leavers and retirees, ensuring compliance with UK pension law and local pension plan requirements.
Is solely responsible for providing pension companies with extensive, annual pension plan renewal data.
Manages the Medical Insurance Scheme.
Manages Mission's Life Insurance Plan.
NOTE: All applicants must address each selection criterion detailed below with specific and comprehensive information supporting each item.
Education: Foundation Degree in Pensions Administration and Management or an equivalent qualification
Prior Work Experience: Professional work experience within a pension administration environment (e.g. pension provider or 3rd party administrator)
Language Proficiency: Fluent in written and spoken English (this may be tested)
Knowledge: Comprehensive knowledge and extensive experience of UK pension, social security, and trust laws are required